Savanna accepts Western Energy's raised offer, rejects Total Energy's: Reuters
Savanna Energy Services Corp said it accepted a higher offer from fellow Canadian oilfield services provider Western Energy Services Corp, while again rejecting a hostile bid from Total Energy Services Inc, Reuters reported. The new Western Energy offer values Calgary-based Savanna at about $386 million, up from about $348 million earlier. The company is backed by Alberta Investment Management Corp, which last year agreed to provide it with about $219 million in debt and equity financing.
15 March 2017•1 min read
